The aims of the present study were twofold: assessing the prevalence and intensity of post‐traumatic stress disorder (PTSD) symptoms in victims of bullying, and exploring whether victims of bullying differ in their basic assumptions compared to a control group. A total of 183 victims of bullying and 183 control group participants took part in the research. The results showed that 42.6% of the total sample met all DSM‐IV‐TR criteria for PTSD, whereas 54.1% did not fulfill the A1 criterion. Post‐traumatic symptoms were more prevalent among women (49%), as compared to men (35.3%). Furthermore, victims showed significantly more negative beliefs about the world, the people, and themselves, compared to their non‐bullied controls. These results fit well with cognitive theory of trauma.